Economy

Saudi Arabia’s real estate offers more profit than stock market investments: CMA chairman

Follow-ups -eshrag News:

RIYADH: Saudi stocks opened lower on Wednesday, weighed down by negative market movements.

As of 10:22 a.m. Saudi time,the main index, TASI, was down 0.47 percent at 12,503 points.

The parallel market, Nomu, fell 0.10 percent to 24,989 points.

The largest player in the Saudi oil market, Aramco, traded flat.

In the financial sector, the Kingdom’s largest valued bank, Al Rajhi Bank, fell 2.07 percent, while Alinma Bank was down 0.29 percent.

Al-Baha Investment and Development Co. led the gainers, up 10 percent, after its board approved an increase of its capital by 68 percent.


Banking Group Aljazira edged ahead of the other fallers in early trading, dropping 2 percent.

In energy trading, Crude oil hit $96.71 per barrel, and US benchmark WTI reached $92.35 per barrel at 10:30 a.m. Saudi time.

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